Free Enterprise System

Learn about the free enterprise system!

One of the first, founding principles of the American economy was the idea that workers were... assigned jobs as they arrived in the colonies free to choose their work controlled by those they worked for How was Jonathon able to raise the money he needed to start his new business? Saving up everything he need Stealing the money from the bank Asking investors to loan him some What drove Jonathon to create newer styles of hats and offer them at lower prices? Who benefited from these newer styles and lower prices? Customers Jonathon Alphonse Who receives dividends from successful companies? Workers Owners Investors How has competition benefited workers? Use Complete sentences. Go back to the video if you need to. Which would you see happening in the United States during a war time period versus what the economy would look like in a peace time period. War Time Economy Businesses are limited to using resources in an efficient manner Consumers are limited on what and how much they can buy Workers wages are limited and frozen Prices are controlled by the government Peace Time Economy Businesses are free to use resources however they wish Workers are free to bargain for more pay Prices are determined by what consumers are willing to pay Consumers are able to buy as much as they want If you were dealing with the Wartime economy, how would you make sure your family was provided for? How did you like this format for learning about the Free Enterprise system? Explain.